Ruiz resigns as Globalfoundries chairman

MUNICH, Germany  In the wake of allegations that he passed along confidential information, Globalfoundries Chairman Hector Ruiz has stepped down, effective immediately. Ruiz had earlier announced he would resign the post in January 2010.

According to the allegations, Ruiz had forwarded information regarding microprocessor manufacturer AMD's plans to spinoff its manufacturing activities and bring them into a joint venture with capital investor Advanced Technology Investment Co (ATIC). Ruiz eventually became chairman of the joint venture, Globalfoundries.

Ruiz will be succeeded by Globalfoundries board member Alan Ross, who will serve as interim chairman until a permanent candidate is found, the chip manufacturer said in a statement.